Wix.com (NASDAQ:WIX) Price Target Cut to $143.00 by Analysts at Morgan Stanley

Wix.com (NASDAQ:WIX) had its target price decreased by Morgan Stanley from $157.00 to $143.00 in a report issued on Wednesday morning, Benzinga reports. Morgan Stanley currently has an equal weight rating on the information services provider’s stock.

Other research analysts have also issued reports about the company. Royal Bank of Canada increased their price objective on Wix.com from $135.00 to $160.00 and gave the company an outperform rating in a research report on Thursday, February 22nd. StockNews.com upgraded Wix.com from a hold rating to a buy rating in a research report on Saturday, April 13th. JMP Securities increased their price objective on Wix.com from $130.00 to $150.00 and gave the company a market outperform rating in a research report on Wednesday, January 24th. Barclays increased their price objective on Wix.com from $147.00 to $160.00 and gave the company an overweight rating in a research report on Thursday, February 22nd. Finally, UBS Group raised their price target on Wix.com from $155.00 to $160.00 and gave the stock a buy rating in a research report on Thursday, February 22nd. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $144.29.

Wix.com Price Performance

WIX stock opened at $122.62 on Wednesday. The business has a fifty day moving average price of $135.07 and a 200 day moving average price of $115.69. Wix.com has a fifty-two week low of $73.39 and a fifty-two week high of $146.21. The stock has a market capitalization of $6.82 billion, a price-to-earnings ratio of 222.95, a P/E/G ratio of 4.26 and a beta of 1.33.

Wix.com (NASDAQ:WIX) last released its quarterly earnings results on Wednesday, February 21st. The information services provider reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.24. The firm had revenue of $403.80 million during the quarter, compared to analysts’ expectations of $416.87 million. Wix.com had a negative return on equity of 40.56% and a net margin of 2.12%. The business’s revenue was up 13.7% on a year-over-year basis. During the same period last year, the firm posted ($0.42) EPS. On average, equities analysts expect that Wix.com will post 1.16 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. HighMark Wealth Management LLC bought a new position in Wix.com during the fourth quarter worth about $26,000. Northwest Bank & Trust Co bought a new position in Wix.com during the fourth quarter worth about $26,000. Quarry LP bought a new position in Wix.com during the second quarter worth about $29,000. UniSuper Management Pty Ltd bought a new position in Wix.com during the second quarter worth about $31,000. Finally, BluePath Capital Management LLC acquired a new stake in shares of Wix.com in the 3rd quarter valued at about $37,000. 81.52% of the stock is currently owned by institutional investors.

Wix.com Company Profile

Wix.com Ltd., together with its subsidiaries, operates as a cloud-based web development platform for registered users and creators worldwide. The company offers Wix Editor, a drag-and-drop visual development and website editing environment platform; and Wix ADI that enables users to have the freedom of customization that the classic editor offers.